(2006) Ron Paul: GOLD AND THE US DOLLAR [Part 4]
Uploaded by: jaralero
Video Description:
( April 25th, 2006) Rep. Ron Paul speaks before the US House of Representatives.
(2006) Ron Paul: GOLD AND THE US DOLLAR [Part 1] http://www.youtube.com/watch?v=_GcP_Lw4BCc (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 2] http://www.youtube.com/watch?v=sHsh_SwAstw (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 3] http://www.youtube.com/watch?v=C04kIwnzRSg (2006) Ron Paul: GO
LD AND THE US DOLLAR [Part 4] http://www.youtube.com/watch?v=GEm03U7eXTw --------------------------------------------------------------- (Transcript) It is a mistake to blame high gasoline and oil prices on price gouging. If we impose new taxes or fix prices while ignoring monetary inflation, cor
porate subsidies and excessive regulations, shortages will result. The market is the only way to determine the best price for any commodity. The law of supply and demand cannot be repealed. The real problems arise when government planners give subsidies to energy companies and favor one form of ener
gy over another. Energy prices are rising for many reasons: inflation, increased demand from China and India, decreased supply resulting from our invasion into Iraq, anticipated disruption of supplies as we push regime change in Iran, regulatory restrictions on gasoline production, government inte
rference in the free market development of alternative fuels, and subsidies to Big Oil, such as free leases and grants for research and development. Interestingly, the cost of oil and gas is actually much higher than we pay at the retail level. Much of the DOD budget is spent protecting ``our'' oi
l supplies; and if such spending is factored in, gasoline probably costs us more than $5 a gallon. The sad irony is that the military efforts to secure cheap oil supplies inevitably backfire and actually curtail supplies and boost prices at the pump. The waste and fraud in issuing contracts to large
corporations for work in Iraq only adds to price increases. When problems arise under conditions that exist today, it is a serious error to blame the little bit of the free market that still functions. Last summer, the market worked efficiently after Katrina. Gasoline hit $3 a gallon, but soon s
upplies increased, usage went down, and the price returned to $2. In the 1980s, market forces took oil from $40 a barrel down to $10 a barrel, and no one cried for the oil companies that went bankrupt. Today's increases are for the reasons mentioned above. It is natural for labor to seek its highes
t wage and businesses to strive for the greatest profits. That is the way the market works. When the free market is allowed to work, it is the consumer who ultimately determines price and quality, with labor and businesses accommodating consumer choices. Once this process is distorted by government,
prices rise excessively, labor costs and profits are negatively affected, and problems emerge. Instead of fixing the problem, politicians and demagogues respond by demanding windfall profits taxes and price controls, while never questioning how previous government interference caused the whole me
ss in the first place. Never let it be said that high oil prices and profits cause inflation. Inflation of the money supply causes higher prices. Since keeping interest rates below market levels is synonymous with new money creation by the Fed, the resulting business cycle, higher cost of living a
nd job losses all can be laid at the doorstep of the Fed. This burden hits the poor the most, making Fed taxation by inflation the worst of all regressive taxes. Statistics about revenues generated by the income tax are grossly misleading. In reality, much harm is done by our welfare-warfare system
supposedly designed to help the poor and tax the rich. Only sound money can rectify the blatant injustice of this destructive system. (...) [ http://www.c-spanarchives.org/congress/?q=node/77531 &id=7442935 ]
Tags for this video: 2008 constitution dollar elections fiat gold liberty money paper paul ron usa
Find more videos in the "News" category
See more videos uploaded by jaralero
| Ron Paul tells the real reason for the oil prices | (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 1] | (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 3] |
 |  |  |
| Chris Rock: The US Dollar is Worthless | Dollar in Danger- The Greatest Threat to America | Ron Paul on Iran & Energy (C-SPAN 6/26) |
 |  |  |
Share This Video:
Comments for this video: Show || Hide
Tell a friend:
the governments job is to look after the best interest of its citizens.
you make sound as if you're border lining anarchy???
Please take a minute to think about what I've said today and then get back to me. I'd like this to be a somewhat respectable debate and in that aspecct I apologize for calling you naive, I didn't mean that. You know how it is with these things ;)
Please take a minute to think about what I've said today and then get back to me. I'd like this to be a somewhat respectable debate and in that aspecct I apologize for calling you naive, I didn't mean that. You know how it is with these things ;)
In the end, the free market always wins.
In the end, realist or naive, we are all dead. You can't have a free market without free money. The U.S. has not had a FREE MARKET since the Legal Tender Act of 1862. At least the non-free, unconstitutional, greenbacks used to hold some sort of gold parity ($35 per oz.), gone in 1971. "The Imper
ialist market" (your brand of foreign policy) is not market-wise, thus, it's being owned by Communist China (a U.S. creditor), which is not precisely a freedom lover: endgame.